Directorate Change

Celtic Resources Holdings PLC
09 January 2004


                         Celtic Resources Holdings Plc

           Celtic Strengthens Board with Senior Gold Asset Specialist


Celtic Resources Holdings Plc ("Celtic" or the "Company") is pleased to announce
the appointment on Monday 5th January of Mr. Peter McKenna as Non-executive
director.

Mr. McKenna, 52, who holds a BSc. (Hons) in Geology from London University has
over 30 years experience in the gold mining and exploration industry. He joined
the executive management team of London listed Harmony Gold in 1999 where he had
responsibility for managing the acquisition of international gold assets. This
involved negotiating stakes in High River Gold Mines, Highland Gold (Alternate
Director), New Hampton Goldfields (Director) and Goldfields of Australia. Mr
McKenna's time at Harmony included a term as Alternate Director and he was also
appointed a Director of Harmony Management Services. He resigned from Harmony in
November 2003.

Prior to working at Harmony, Mr. McKenna was Director of Business Development
for West Rand Consolidated Mines Limited (1998-1999) evaluating gold mining
opportunities in South Africa. As General Manager of Business Development for
JCI Limited (1995-1998), he was involved with the negotiation and acquisition of
projects in Russia, Ghana, Ethiopia, Tanzania and the Congo (DRC). During this
time he also lent his skills in financial and governmental negotiation to JCI
associated companies such as London listed Barnato Exploration Limited
("Barnex") where he led negotiations at the Prestea gold project in Ghana.
Previously he has served on the boards of Consolidated Murchison Limited, Unisel
Gold Holdings Limited and Eastvaal Gold Holdings Limited. Mr. McKenna was also
Managing Director of London listed Freestate Development and Investment
Corporation (1994) and he is currently a Director of LMP Minerals (Pty) Limited
and Kenpe Consultants C.C.

Commenting on the appointment, Celtic Resources Chairman, Peter Hannen said, "We
are delighted to have secured the services of such an experienced mining man and
high calibre professional as Peter McKenna. He will contribute greatly to
Celtic's growth."

There are no further disclosures that need to be made under Schedule Two,
paragraph (f) (iii) to (viii) of the AIM Rules.

For more information please contact:

Kevin Foo/Kate Dexter-Smith              Leesa Peters / Laurence Read
Celtic Resources Holdings Plc            Conduit PR
Tel: + 44 (0) 20 7593 0001               Tel: [phone]
                                         9885

[e-mail]   [e-mail]
---------------------------------------- ---------------------

Joe Nally / David Newton
Williams de Broe Plc
[phone]

                            www.celticresources.com


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